The Marketing of Luxury Products

The class addresses the unique properties, opportunities, and challenges of the luxury industry by studying issues relevant to the field in the various aspects of the business. The course structure includes presentations by faculty and industry executives, discussions, and the team project. In the current challenging global environment, luxury can seem either out of touch or a way to indulge in self-care and positivity. Today, is luxury the ultimate sign of personal success, the fulfillment of individual dreams, or an inappropriate display of financial disparities? What are the challenges inherent to this industry today? This class addresses the idiosyncrasies of the luxury industry by studying issues relevant to the field in the various aspects of the business, from production and management to distribution and promotion. In this intense program, Columbia Business School MBA students will work in teams to solve three actual projects created exclusively for this class by Chanel, Audemars Piguet, and Cartier. Each student will be assigned to one project and will work in smaller groups according to each project’s needs. Students will work on specific aspects of the projects, and the teams will coordinate their research and recommendations to present to the company's executives during three class sessions and a final press conference. Students are required to attend the final press conference on October 27, 2022. Thus, the objectives of the course are: • To understand the importance of thorough research, customer experience, retail observation, and psychographics to develop new strategies for the evolution of the luxury industry • To use your previous experience and knowledge and apply it to this specific industry and project • To sharpen your presentation skills in front of the participating company's senior executives • To learn how to work efficiently in teams under tight time constraints